Kurgan-based Sintez demonstrates strong financial results

| By | Drug Manufacturing, Sintez

JSC Joint-Stock Kurgan Company of Medicines and Products Sintez released its financial statements for 6 months. The revenue of the company is 3403 million rubles (compared to 3234 million rubles for the first 6 months of 2016), net profit increased by 2.2 times to reach 672,3 million rubles (compared to 301 million rubles for the first 6 months of 2016).

In H1 2017, the retail sales of JSC Sintez increased by 14% (compared to the same period of 2016), while the Russian retail market for the same product range (about 300 INNs) grew by 8% in monetary terms.

These results have become possible due to cost cutting, improved efficiency of sales, expanded cooperation with key partners, and development of exports. For example, in 6 months, the main distributors doubled their purchases. JSC Sintez began to develop new markets; in particular, it started the deliveries to Afghanistan (the company supplies its products to more than 15 countries).

Andrey Zagorsky, the Head of Marathon Pharma Production Unit, said, “We have done a lot of work to cut costs by switching to direct contracts with suppliers of raw materials. Today, Sintez buys about 90% of substances directly from the manufacturers. In addition, we have built the capacity for prompt start of additional manufacturing in the event of increased demand for individual items of our product portfolio.”

SOURCE: gmpnews.ru
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